OFX wins international payments contract with Link
Foreign exchange company OFX has won a big corporate account, announcing yesterday that it has an exclusive arrangement to provide international payments services to the share registry operator Link Market Services.OFX will process dividends and other corporate payments to offshore investors who hold investments in listed Australian companies that use Link as their register.The contract is for five years and will start in March next year. OFX said it would generate about A$5 million in annual income by 2021/22. Capital expenditure on the project is budgeted at $2 millionOFX managing director Skander Malcolm said OFX was in discussions with Link about expanding the partnership to include more of Link's clients and their investors.